Lead plaintiff DeKalb County Pension Fund accused ArthroCare, former president & CEO Michael Baker and former senior VP and CFO Michael Gluk of making "public statements that were materially false and misleading."

The lawsuit further alleges that defendants "failed to disclose numerous fraudulent and improper practices within the Company, thus causing it to file materially false and misleading financial statements, thereby resulting in a loss," according to the class action lawsuit web page.

ArthroCare must pay $74 million, or about $3.49 per share, to settle the shareholder’s claims. Read more

DePuy hip settlements aheadInitial details about how Johnson & Johnson (NYSE:JNJ) will divvy up the $2 billion to $3 billion fund set aside for lawsuits surrounding its DePuy Orthopaedics hip implant recall may come as early as the 1st quarter of 2013, according to the lawsuit settlement funding company Legal-Bay LLC.

Settlements in some cases may top $1 million and the average settlement is likely to be around $500,000, according to a press release. Read more